UPDATE: Marathon Petroleum plans to buy 33 NOCO Express c-stores, according to a separate report by The Buffalo News. Six of NOCO's 39 stores are not included in the pending deal. Those six locations will eventually switch from the NOCO name, said the report, although no additional details are known.
FINDLAY, Ohio — Marathon Petroleum Corp. has agreed to acquire all 37 of NOCO Energy Co.’s convenience stores in western New York, reported Buffalo Business First.
Th companies did not disclose the terms of the deal, which they expect to close by late spring. Marathon will rebrand the locations to its Speedway brand, the report said.
The company will continue to operate its wholesale fuel distribution network along with its heating oil, propane sales, gas supply, real estate development and petroleum equipment sales businesses, Michael Newman, NOCO executive vice president and co-owner, told the newspaper.
In response to a CSP Daily News request, a spokesperson for Marathon Petroleum would not confirm and declined comment on the transaction.
Family-owned NOCO is based in Tonawanda, N.Y., NOCO operates 37 convenience stores in western New York. It also offers a full line of products and services, including natural gas, electricity, propane, heating oil, HVAC sales and service and commercial fuel. NOCO is No. 173 in CSP's 2018 Top 202 ranking of c-store chains by number of retail outlets.
Findlay, Ohio-based Marathon Petroleum is an integrated downstream energy company that operates 16 refineries and a marketing system that includes about 7,800 branded U.S. locations, including about 5,600 Marathon retail outlets. Its Enon, Ohio-based Speedway subsidiary owns and operates about 4,000 convenience stores nationwide.
*Speedway is No. 3 in the Top 40 update of CSP’s 2018 Top 202 ranking.
Marathon Petroleum also owns the general partner and majority limited partner interests in two midstream companies, MPLX LP and Andeavor Logistics LP, which own and operate gathering, processing and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.
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